Debt Counselling

What is Debt Counselling?

The debt counselling program came into effect on the 1st of June 2007, following the enactment into law of the National Credit Act no. 34 of 2005. This Act provides for consumers to go through debt counselling before filing for other debt relief measures such as debt administration and insolvency. These have devastating effects in terms of crippling future borrowing capacity and carry large financial and legal costs. Debt Counselling is also known as Debt Review.

Debt Counselling in South Africa aims:

To assist over-indebted consumers.

To identify and profile cases of reckless lending with the aim to get the cases suspended.

While you cannot borrow while under debt review. Once
debts are paid up you are issued with a clearance certificate.

Debt Sage works with creditors to help individuals get out of debt without taking an additional loan. Money is not loaned, but a manageable repayment plan is achieved through loan modification, which includes lowering the interest rate or extending the term of the loan among alternative techniques.

1

Contact Debt Sage

2

Connect with our Debt Counsellors to determine the right relief option for you

Develop a debt restructuring / debt consolidation plan so the client can become debt free after a certain period.

Debt Sage’s Debt Counsellors will:

Evaluate our current financial
situation.

Provide you with a detailed review of your income and expenses.

Develop a workable budget that
you can live with.

Enable you to pay off your debt
within 5 years, through our debt counselling program.

At the end of the debt counselling session, you will feel good knowing that there are options available and that you are not alone. Contact our debt counselling experts today on 010 005 5350 or send us an email at info@debtsage.co.za